Treasuries are stronger to begin....>

US TSYS SUMMARY: Treasuries are stronger to begin the week, thanks largely to

heightened geopolitical risks boosting global core FI.

- Plenty of areas of interest overseas, with escalating tensions in Hong Kong

and a market-unfriendly Argentine primary election result helping boost the USD

and dampen risk appetite.

- S&P futures off 0.75%; USDJPY off 0.5%.

- Sep 10-Yr futures (TY) up 11/32 at 130-1 (L: 129-19.5 / H: 130-03.5). Albeit

overnight volumes remain pretty light (~230k as of 0640ET) with many Asian

markets closed for holidays.

- Curve a little flatter, with 2-Yr yield down 5.5bps at 1.5917%, 5-Yr down

5.9bps at 1.5204%, 10-Yr down 5.7bps at 1.6881%, 30-Yr down 5.8bps at 2.2007%.

- Very little to look forward to on the data docket today: monthly budget

statement for July at 1400ET the highlight.

- More data as the week goes on incl CPI Tuesday and Retail Sales Thursday.

- No FedSpeak; eyes already on July Minutes (Aug 21), Jackson Hole (Aug 22-24).